| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||||
Net income /(loss) | ||||||||
83,905 | -366,195 | 117,016 | - | - | - | - | - | - |
Net income/(loss) | ||||||||
- | - | - | -3,920 | 37,523 | -105,204 | 13,437 | -102,341 | 36,089 |
Adjustments to reconcile net income to net cash provided by operating activities | ||||||||
Depreciation | ||||||||
115,228 | 129,045 | 131,783 | 137,061 | 137,414 | 143,938 | 106,178 | 77,045 | 60,906 |
Amortization of deferred drydocking and special survey costs | ||||||||
6,748 | 5,528 | 3,845 | 4,387 | 5,482 | 6,070 | 5,800 | 7,426 | 8,295 |
Impairment losses | ||||||||
- | 444,502 | 41,080 | 75,776 | 19,004 | 129,630 | - | 71,509 | - |
Write off of finance and other costs | ||||||||
- | - | - | - | - | - | - | 1,084 | 412 |
Amortization of finance costs | ||||||||
11,153 | 12,652 | 14,038 | 15,070 | 15,431 | 14,314 | 9,700 | 1,340 | 889 |
Exit fees accrued on debt | ||||||||
3,169 | 3,447 | 3,639 | 3,745 | 3,763 | 2,762 | 1,592 | - | - |
Bad debt expense | ||||||||
- | 15,834 | - | - | - | - | - | - | - |
Loss on sale of securities | ||||||||
-2,357 | -12,906 | - | - | - | - | - | - | - |
Payments for drydocking and special survey costs deferred | ||||||||
7,511 | 8,976 | 2,341 | 6,887 | 283 | 9,308 | 7,218 | 3,122 | 7,259 |
Loss on sale of vessels | ||||||||
- | -36 | - | 5,709 | -449 | 830 | - | 1,916 | - |
Stock based compensation | ||||||||
- | 76 | 88 | 638 | 75 | 139 | 2,182 | 1,685 | 47 |
Change in fair value of warrants | ||||||||
- | - | - | - | - | - | 2,253 | - | - |
Amortization of deferred realized losses on interest rate swaps | ||||||||
-3,694 | -11,734 | -4,017 | -4,016 | -4,017 | -3,524 | -1,575 | -473 | -66 |
Unrealized gains on derivatives | ||||||||
- | 4,649 | 16,285 | 24,915 | 22,121 | -739 | 10,537 | -48,406 | -29,431 |
Equity income on investments | ||||||||
965 | -16,252 | -1,941 | - | - | - | - | - | - |
Realized losses on cash flow hedges deferred in Other Comprehensive Loss | ||||||||
- | - | - | - | - | 7,035 | 31,320 | 38,504 | 36,298 |
(Increase)/Decrease in | ||||||||
Accounts receivable | ||||||||
2,544 | 13,210 | 2,748 | -134 | 4,297 | -435 | 64 | 380 | 2,613 |
Inventories | ||||||||
-2,554 | 355 | -625 | -2,831 | -3,235 | 1,544 | 6,269 | 2,265 | -417 |
Prepaid expenses | ||||||||
-117 | 654 | -16 | -106 | 113 | -605 | -113 | 368 | 57 |
Due from related parties | ||||||||
1,404 | 13,596 | 8,410 | -3,862 | 1,795 | 3,536 | -1,978 | 2,459 | 1,529 |
Other assets, current and non-current | ||||||||
9,099 | 5,455 | -2,975 | 7,518 | 11,379 | 7,338 | 10,352 | 13,857 | 273 |
Increase/(Decrease) in | ||||||||
Accounts payable | ||||||||
215 | -383 | -971 | -614 | -858 | -1,162 | 396 | 4,905 | -4,059 |
Accrued liabilities | ||||||||
-238 | 1,450 | -10,691 | -6,206 | -1,983 | -1,218 | -15,853 | 27,544 | 10,992 |
Unearned revenue, current and long-term | ||||||||
-19,301 | 26,501 | -9,852 | -2,306 | 1,858 | -1,546 | -4,404 | 1,857 | -3,020 |
Other liabilities, current and long-term | ||||||||
-7,005 | -4,523 | 1,911 | 2,630 | 3,603 | 3,123 | 305 | 730 | 730 |
Net Cash provided by Operating Activities | ||||||||
181,073 | 261,967 | 271,676 | 192,181 | 189,025 | 166,558 | 59,492 | 78,792 | - |
Cash Flows from Investing Activities | ||||||||
Vessels additions | ||||||||
4,478 | 4,561 | 1,112 | 39,165 | 46,839 | 375,424 | 644,593 | - | - |
Investments in affiliates | ||||||||
- | 9,996 | 13,230 | - | - | - | - | - | - |
Net proceeds from sale of securities | ||||||||
6,236 | - | - | - | - | - | - | - | - |
Net Cash provided by Operating Activities | ||||||||
- | - | - | - | - | - | - | - | 93,166 |
Vessels under construction and vessels additions | ||||||||
- | - | - | - | - | - | - | 589,512 | 375,220 |
Net proceeds from sale of vessels | ||||||||
- | 5,178 | 1,050 | 50,602 | 52,926 | 5,635 | - | 1,764 | 2,311 |
Net Cash provided by/(used in) Investing Activities | ||||||||
1,758 | -9,379 | -13,292 | 11,437 | 6,087 | -369,789 | -644,593 | -587,748 | - |
Cash Flows from Financing Activities | ||||||||
Net Cash used in Investing Activities | ||||||||
- | - | - | - | - | - | - | - | -372,909 |
Proceeds from long-term debt | ||||||||
- | - | - | - | - | 266,920 | 482,286 | 437,399 | 267,043 |
Payments of long-term debt | ||||||||
189,653 | 251,130 | 178,808 | 164,154 | 113,634 | 48,124 | 45,369 | 208,751 | 32,219 |
Payments of vendor financing | ||||||||
- | - | 64,367 | 57,388 | 57,387 | 10,857 | - | - | - |
Proceeds from equity issuance | ||||||||
- | - | - | - | - | - | - | 200,000 | - |
Treasury stock purchased | ||||||||
- | - | - | - | - | - | - | 50 | - |
Deferred finance costs | ||||||||
- | - | 692 | 4,392 | 100 | 100 | 30,287 | 7,421 | 6,438 |
Deferred public offering costs | ||||||||
- | - | - | - | - | - | - | - | 384 |
Decrease in restricted cash | ||||||||
- | 6 | 6 | 11,893 | -11,466 | -342 | -2 | 195,564 | 53,071 |
Net Cash used in Financing Activities | ||||||||
-189,653 | -251,124 | -243,861 | -214,041 | -182,587 | 207,497 | 406,628 | 616,741 | - |
Net increase/(decrease) in cash and cash equivalents | ||||||||
-6,822 | 1,464 | 14,523 | -10,423 | 12,525 | 4,266 | -178,473 | 107,785 | - |
Net Cash provided by Financing Activities | ||||||||
- | - | - | - | - | - | - | - | 281,073 |
Net Decrease in Cash and Cash Equivalents | ||||||||
- | - | - | - | - | - | - | - | 1,330 |
Cash paid for interest | ||||||||
74,643 | 69,180 | 71,795 | 82,957 | 92,887 | 84,847 | 53,741 | 38,590 | 36,502 |
Non-cash capitalized interest on vessels under construction | ||||||||
- | - | - | - | - | - | 1,401 | 8,557 | 8,675 |
Non-cash other predelivery expenses on vessels under construction | ||||||||
- | - | - | - | - | - | 410 | - | - |
Final installments for delivered vessels financed under Vendor Financing arrangement | ||||||||
- | - | - | - | - | 124,855 | 65,145 | - | - |
Acquisition of debt securities and equity investment | ||||||||
- | 24,627 | - | 64,896 | - | - | - | - | - |
Non-cash deferred financing fees | ||||||||
- | - | - | 90 | 87 | 86 | 56,519 | 3,505 | - |
Progress payments of vessels under construction accrued | ||||||||
- | - | - | - | - | - | - | - | 37,388 |